Note: Prior to using this function, in Diamond Administration:
Billing / Bank Account Setup: Add a bank account with all information.
Company / Line of Business Tab / Company - State- Line of Business / Bank Account Tab: Select a Bank Account / Add Bank Account Use = EFT.
You must have the authority, "EFT Setup," (Company Configuration group) to access and run this function.
Some pre-installation planning and configuration is required as EFT Files are highly configurable. The different EFT Files can be set up as:
PPD (Prearranged Payment and Deposit): Every type of payment can be PPD. This includes policy payments (EFT, ECheck) and agency payments (Agency EFT).
CTX (Corporate Trade Exchange) If an EFT Group uses this option, then Agency EFT Payments are no longer under PPD and instead are placed in the CTX format.
TEL (One Time Payments)
This process allows users to set up EFT Groups by company / state / lines of business for the purpose of transmitting EFT information from a bank account that is designated for EFT.
To access EFT Setup:
Open Diamond from your desktop.
Right click the Diamond Agent caution sign in the bottom right corner.
When a pop up menu displays, click Company Configuration Tool.
Click Billing to expand the Tree View.
Click EFT Group Setup.
To add an EFT Group:
Click the Add button on the top of the EFT Groups screen.
Once the Add New EFT Group screen displays, highlight the Company / State / Line of Business combination in the bottom of the screen you are creating the EFT group for.
EFT Group Name: Enter a meaningful group name.
On the right side of the screen, make the following entries and selections:
File Path: Enter the name of the path where the Export file will be sent, or click the Ellipse button ("...") and locate the directory / folder combination. When selected, click OK.
File Name: You can manually enter the export file name here, or click the Use System Date as File Name field to place a check mark indicating the file name will use the system date; format YYYYMMDD.
Use System Date as File Name?: Select to indicate the Export File Name will assume the system date's name
Append System Date to File Name: This adds the system date in YYYYMMDD format to the end of the EFT File Name.
Append File Counter to File Name: This adds XXXX to the end of the EFT File Name, where XXXX is an incremental counter of how many files were generated for a given system date.
Reference Code: This allows the user to manually enter the Reference Code used in the File Header of the EFT File Name.
File (Name) Extension: Enter the file name's extension. For example, enter EFT. The whole file name, if you are using the date for the file name would then look like this: 20090502.EFT.
Use File Format Options: Select one or more of the following -
Use CTX Format for Agency (EFT) Payments: If an EFT Group uses this option, then Agency EFT Payments are no longer under PPD and instead are placed in the CTX format.
Use TEL Format for ECheck Payments: If an EFT Group uses this option, then ECheck Payments are no longer under PPD; they are placed in the TEL format instead.
Generate Separate File Per Format
Here is an example. If an EFT Group has "Use CTX Format" and "Use TEL Format" selected, EFT Payments would be PPD, Agency EFT would use the CTX format and ECheck Payments would use the TEL format. If none of these options are selected, then those payments default back to PPD.
Preceding Tax Number: This is the number that precedes the tax number; usually the number 1.
Effective Entry Days: In the EFT files, the generation date is currently used as the deduction date of the policy premiums. This causes the bank to draw funds from the insureds' accounts earlier than intended and stipulated in the policy terms. When an entry is made in the field, this extends the date of the Effective Entry Date in the EFT file. This field defaults to blank. If the days are not entered, this will have no effect.
Entry Description: Optional field; user defined.
Company Discretionary Data: Optional field; user defined.
Company DLL Name: This is the name of any company specific EFT functions. For example, enter something similar to Diamond.C00XX.Business.EFT would go here. (Where XX in the C00XX name would be your company number.)
When finished, click Accept. The EFT Groups screen returns, and the EFT Group is added to the Grid View.
To edit an EFT Group:
Highlight the EFT Group in the Grid View.
Select Edit or double click the EFT Group.
When the Edit EFT Group screen displays, make your changes.
Click Accept.
The EFT Group screen returns.
To delete an EFT Group:
Highlight the EFT Group in the Grid View.
Select Edit or double click the EFT Group for deletion.
Answer Yes to the question: "Are you sure you want to delete the selected EFT Group?"
The EFT Group is removed from the Grid View.